Independent Research Details Business Benefits and Cost Savings for TigerGraph Customers; Study Finds TigerGraph Increased Profits, Reduced Fraud, and Increased Productivity
TigerGraph, provider of a leading graph analytics platform, released the results of a study commissioned by TigerGraph and conducted by Forrester Consulting that outlines the Total Economic Impact™ (TEI) of deploying TigerGraph. The study involved extensive interviews with six TigerGraph customers — each reporting between $20 – $250 billion in annual revenue — to examine their return on investment (ROI) and overall business benefits after adopting TigerGraph. Results indicate that for a composite organization, TigerGraph delivers 600% ROI and a net present value (NPV) of $20.81 million over three years, with one interviewed SVP and data scientist at a financial services organization describing TigerGraph as a “‘force multiplier’ for improving existing processes in graph.”
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“We’ve seen the phenomenal impact TigerGraph’s advanced graph analytics has had on global customers in nearly every industry — from automotive and healthcare to financial services and manufacturing. Yet, to have Forrester Consulting evaluate, research, and quantify what we’ve always known about graph’s business value — and to then hear how TigerGraph was able to help organizations ask and answer critical business questions — is extremely rewarding,” says Yu Xu, founder and CEO of TigerGraph. “These impactful results — from increases in profitability to productivity gains — bolster TigerGraph’s position as the industry’s graph authority. As more of today’s leading organizations tap the power of graph to accelerate their digital transformation efforts, TigerGraph continues to deliver a world-class, customer-proven product.”
In addition to reporting 600% ROI and an NPV of $20.81 million over three years, Forrester Consulting also outlined benefits that a composite organization experienced with TigerGraph. These include:
- Increased profits from new products and services valued at $9.6 million over three years. A greater understanding of customers and organizational data through fast and powerful analysis opened a wide variety of avenues for organizations to provide new products and services, attract new customers, and generate new revenue resulting in increased profits.
- Data team productivity increase of 70%. The data team saved time spent performing analysis and managing data and engineering databases, representing a three-year PV of $2.5 million for the composite organization.
- Ease of use. Interviewees identified several features that contributed to ease and flexibility of experience including GSQL, the proprietary, Turing-complete programming language used by TigerGraph.
Another interviewed customer, an SVP of data fabric management at a financial services firm who participated in the Forrester TEI study shared their TigerGraph experience: “It is really the scalability of the software that attracted us. [A] billion nodes within three months is just not manageable by a lot of relational database[s] and even some of the graph databases on [the] market. For us, without this graph database, there is really no way for us to figure out the relationship[s] among all these different applications.”
Another interviewee from the study, an SVP and data scientist from a financial services organization, shared, “We needed a graph technology that would help us in a real-time, enterprise-scalable manner to tick and tie what we call non-obvious relationships together. [With] TigerGraph that can happen in a matter of seconds or minutes.”
Also, an SVP and data scientist in financial services commented on “the ability to ‘reduce fraud losses, improve customer experience, and make better decisions’” with TigerGraph. The same interviewee also stated that for their organization, “data is really the new oil in terms of businesses. It’s [a] competitive advantage for a lot of companies and creating a robust picture of our customers.”
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TigerGraph continues to advance the graph market while working to make graph accessible and understandable to more businesses worldwide. Last week, TigerGraph announced the finalists in the “Graph for All Million Dollar Challenge,” a global search for innovative ways to harness the power of graph technology and machine learning to solve real- world problems. Winners and recipients of the $1 million in prizes will be announced and showcased at Graph + AI Summit, the industry’s only open conference focused on accelerating analytics, AI, and machine learning with graph algorithms. The virtual event, taking place May 24-26, will include speakers from the world’s most innovative organizations and feature keynotes from industry visionaries as well as breakout sessions, use cases, and panels led by data, analytics, and AI professionals.